Full Description: The house is sold on an installment contract (similar to how you buy a car with financing). The financing is provided by the seller. There is a $5,000 down payment and then the monthly payment is $1,295. The monthly payment includes the property tax, property insurance and monthly assessment fee. You become an owner and will be allowed to reduce your real estate tax because of that by about 21% or so due to the home ownership exemption. Your monthly payment will become even lower next year as a result (by about $48/month). Additionally, you may have federal and income tax exemption benefits for property tax and interest paid.

There is no prepayment penalty, so you can pay it off at any time. You can also refinance with a bank if you decide to do that at any time with no prepayment penalty. Interest deduction and property tax payment deduction can lower your federal and state income tax.

The application process is very simple and similar to a rental application. There is a $35 application fee, which goes towards the 1st monthly payment and does not cost extra.

If you have any questions or would like to schedule a viewing, please, call the number below.

We cannot offer these terms to section 8 voucher holders or anyone currently in bankruptcy.